What Europe can learn from Sweden’s booming IPO market

While the main financial centers in Europe, such as London, Frankfurt and Paris, are struggling with prolonged drought in the public menus, the Stockholm Stock Exchange leads the continent as the best primary public bids market.

The companies listed in the capital of Sweden have raised nearly two billion dollars so far in 2025 – more than eight times the size seen in London and greatly outperformed the financial centers in Madrid, Zurich and Frankfurt, according to the CNBC account for FactSet data.

The prominent lists coming from the Verisure and Nordic Noba giant highlighted the trend that experts say is the result of a decades -long process..

The success of Nordic Nation is mostly attributed to the “deep -rooted” national arrow culture, a variety of local capital and a supportive regulatory framework.

It contains something “you will not find anywhere else in Europe.” The Plenov Investment Bank has led millions of dollars in subsidies for Asker Healthcare and Game Development Hacksaw earlier this year.

Blinov explained that the main engine of the Swedish public subscription is “an ecosystem for the local capital that invests in local stocks and is very smart.”

This local capital provides this basis for all sizes deals.

“If you look at the average retail investor, there is much greater than the wealth of people invested in public stock markets,” said Kasper Dichow, ECM president, investment banking services and stocks in Nordea. “Sweden stands out in Europe.”

Dichow team participates in the upcoming subscription subscriptions in Noba and Verisure.

About 70 % of the family’s wealth between Swedes is located in stocks, compared to the average European Union of 59 %, according to Eurostat statistics. Sweden Ministry of Finance It has also been suggested that seven out of 10 of its residents keep direct investment funds, and do not keep only about 10 % of their financial assets in cash or bank deposits – the lowest level in Europe.

“If you are in Stockholm, you will talk to your taxi driver, and he will tell you about his latest investments,” Plinov said. “There is a culture. There is an environmental system built around it.”

This cultural exposure to accepting the relative risks in the shares, compared to bonds, was achieved during decades of government policy.

“I think it begins to organize, and this is what leads culture,” said Dico from Nurdiyeh. “It is driven by a supportive organizational environment.”

The first Swedish investment funds were launched in 1958 fondbolagens föreningSwedish Investment Fund Association. But it was not yet 20 years after the introduction of tax savings boxes in the current phenomenon. By 1990, there were 1.7 million accounts in saving money in a country more than 8.5 million people.

Recently, the introduction of an investment provision account in 2012 strengthened the behavioral shift towards investment in stocks. In contrast, many pension funds in the United Kingdom have changed their governorates because of the organization and some of them, such as ItvA fund worth $ 2.36 billion, do not keep any shares, according to FactSet data.

In Sweden, the result of the Multidecade process was a strong environmental system for local investment.

“Given that the long Sweden maintains a particularly active stock market in a European perspective, with high participation in both the investors of the retail and family office, in addition to providing institutional assets in the management of capital and pension assets,” said Nickels Fahram, head of the Capital market at Seb.

FHARM led the Roko Investment Company earlier this year.

NasdakWhich runs Exchang Stockholm, made it easier for companies to run a secondary menu in one of their other exchange in Copenhagen, Hildink, Iceland, Ellin, Rega and Velanis. This enables companies to diversify the investor base.

In addition, fixed supplies from companies supported by private companies and investment capital companies fill the pipeline for the public brand.

“Many cases of general subscription are born in quality from the heritage of private stocks,” said Juran Svinson, head of capital markets in Sweden in the north.

These investors have learned that the successful list requires leaving value on the table for new investors in the public market.

“The private stock world has also learned that the transfer of a company to the stock market requires that there be some bullish trend to move forward.” “They cannot click on every dollar.”

For Per Franzen, CEO of EQT Special Parking Company, the public subscription is a “attractive alternative to exit”, and his company guarantees that their wallet companies are always “ready for public subscription” to increase their options to the maximum.

EQT sold 5.3 billion Swiss franc Galderma This year, when the shares of the skin care giant increased by more than 125 % since the public subscription in March 2024.

Despite the wave of activity, the current public subscription boom in Sweden is only with regard to quiet Europe and is still far from the peak in the market at all.

Nearly $ 2 billion, which was raised in 2025 so far through more than 11.5 billion dollars in Sweden during the 2021 world public subscription madness.

Market health also depends on the performance of its latest organs. Investors, who suffer from the shrinkage that followed the peak of 2021, are cautious.

“In this early stage of the public subscription cycle, we see that investors in general are somewhat selective and focus on the path of track and profitable growth prospects.”

Currently, expectations remain positive.

“We are completely confident and positive about the pipeline and what will appear on it in the next 12 months,” said Dico from Nordiyeh. “I think 2026 is expected to be a great year in public subscription, not only in Sweden, but across the northern European, with a lot of public subscriptions in the maximum.”